MediaTek Inc. Reports Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016; Provides Consolidated Earnings Guidance for the First Quarter of 2017
January 25, 2017
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MediaTek Inc. reported consolidated earnings results for the fourth quarter and full year ended December 31, 2016. Fourth quarter revenue was TWD 68,675 million, down 12.4% sequentially, and up 11.3% year-over-year. The quarter-over-quarter decrease was mainly due to seasonal decline in consumer electronics. The year-over-year growth was mainly due to increasing shipments in consumer electronics. Operating income for the quarter was TWD 3,981 million, down 47.8% sequentially, and up 6.2% year-over-year. Net income for the quarter was TWD 5,138 million, down 34.4% sequentially, and up 22.9% year-over-year. EPS was TWD 3.23, compared with TWD 4.98 in the prior quarter and TWD 2.83 in the year-ago quarter. Net cash provided by operating activities during the quarter was TWD 9,209 million, compared with TWD 3,170 million in the prior quarter and TWD 18,164 million in the year-ago quarter.
For the full year, the company reported revenue totaled TWD 275,512 million, up 29.2% year-over-year. Operating income of the year was TWD 23,076 million, down 10.9% year-over-year. Full year 2016 net income was TWD 24,031 million, down 6.7% year-over-year. Accumulated EPS was TWD 15.16 for the year, compared with TWD 16.60 last year.
For the first quarter of 2017, the company expects consolidated revenue will be around TWD 53.6 billion to TWD 59.1 billion and gross margin of 34.0% to 1.5%.
MediaTek Inc is a Taiwan-based company principally engaged in the research, development, manufacture and distribution of multimedia integrated circuit (IC) chipsets. The main products including mobile communication chipsets, tablet computer chips, bluetooth chips, wireless local area network (WLAN) chips, global positioning system (GPS) chips, optical storage chipsets, artificial intelligence Internet of Things device single chips, automotive electronic chipsets and others. The Company is also involved in the provision of related design, testing, maintenance and technological consultancy services. The Company's products are mainly used in mobile phones, digital TVs, personal computer systems, digital home appliances, wearable devices and Internet of Things products. The Company mainly distributes its products in domestic and overseas markets.
MediaTek Inc. Reports Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016; Provides Consolidated Earnings Guidance for the First Quarter of 2017